Comerica Share News

US STOCK FUTURES: HOT STOCKS TO WATCH

Among the companies whose shares are expected to actively trade in Friday's session are Google Inc. (GOOG), Microsoft Corp. (MSFT) and General Electric Co. (GE). Google's fourth-quarter earnings rose 6.3% as the Internet giant's revenue grew at the slowest rate of 2011. Shares in Google, a company that seldom misses consensus earnings estimates, plunged 8.3% to $586.53 in premarket trading as per-share earnings and revenue were both short of expectations. Microsoft's fiscal second-quarter profit slipped 0.2% as the software giant recorded lower sales in its Windows and Windows Live segment, though revenue rose in its other divisions. Microsoft shares climbed 2.6% to $28.84 in recent premarket trading as per-share earnings beat analysts' expectations. General Electric's fourth-quarter earnings slipped 18% on a bigger-than-expected drop in revenue and as discontinued operations weighed on the conglomerate's results following its sale of a majority stake in NBC Universal last year. Shares fell 2.4% to $18.69 in recent premarket trading. International Business Machines Corp.'s (IBM) fourth-quarter earnings rose 4.4% as higher software and services revenue offset a decline in its hardware business. Shares were up 2.6% to $185.20 in recent premarket trading as the company projected 2012 earnings above expectations. Schlumberger Ltd.'s (SLB) fourth-quarter earnings rose 36% as the oil-field services company saw revenue jump in North America. Shares climbed 0.5% to $73.22 premarket. American Express Co.'s (AXP) fourth-quarter earnings rose 12% as cardholder spending kept rising and the company booked higher revenue, though loan-loss provisions increased and revenue fell short of analysts' expectations. Shares slipped 2.1% to $49.90 premarket. Capital One Financial Corp.'s (COF) fourth-quarter profit fell a surprise 42% as the card-issuer-turned bank reported higher provisions for losses on loans. Shares slid 5.7% to $46 premarket on the weaker-than-expected results. Carnival Corp. (CCL) said it would review its safety and emergency-response procedures across its cruise lines after a fatal vessel incident, with the leader of the cruise operator vowing that such a tragedy wouldn't happen again. Shares fell 3.7% to $30.73 in recent premarket trading. Fifth Third Bancorp's (FITB) fourth-quarter earnings fell 5.7% as revenue sank, though the regional bank reduced its loan-loss provisions and charge-offs amid a tighter lending environment. Shares dropped 3.4% to $13.10 premarket. Intuitive Surgical Inc.'s (ISRG) fourth-quarter earnings rose 25% as the surgical-robot maker reported more widespread use of its da Vinci surgery machines. But shares were down 4.6% at $452.80 in premarket trading. Watch List Alnylam Pharmaceuticals Inc. (ALNY) said it will cut a third of its work force to better focus its efforts on a few key projects. Argo Group International Holdings Ltd. (AGII) estimated pre-tax fourth-quarter catastrophe losses of $25 million to $35 million, net of reinsurance and reinstatement premiums, due to the severe flooding in Thailand. AZZ Inc. (AZZ) issued a downbeat earnings forecast for 2013 as the electrical and industrial products manufacturer warned of continuing pricing pressure. Cliffs Natural Resources Inc. (CLF) said it plans to increase its spending 12% to about $1 billion this year to boost its mining and transportation capacity around the world. Comerica Inc.'s (CMA) fourth-quarter earnings were flat from a year earlier as merger-related charges masked the financial-services company's increase in loans. Conn's Inc. (CONN) said it plans to close five stores this month, as the retailer moves forward with a plan to shutter or relocate underperforming locations and open new ones. CoreLogic Inc. (CLGX) said Thursday its 2011 results would beat guidance and the real-estate processor and data-service provider predicted a better-than-expected profit this year thanks to increasing mortgage originations and cost savings. Covidien PLC (COV) said President and Chief Executive Jose E. Almeida will take on the additional role of chairman in March, succeeding Richard J. Meelia. Cubist Pharmaceuticals Inc.'s (CBST) fourth-quarter earnings fell 53% on acquisition- and restructuring-related charges, though the biopharmaceutical company's revenue continued to climb. First Horizon National Corp.'s (FHN) fourth-quarter earnings more than doubled despite lower revenue as the bank holding company sharply cut its credit costs and gained over a year-earlier quarter hindered by a large payout for preferred dividends. Flextronics International Ltd.'s (FLEX) fiscal third-quarter earnings fell 48% as charges related to the exit of its original design manufacturer business weighed on the contract-electronics company's bottom-line results. The company also issued a downbeat fourth-quarter sales forecast. Ingram Micro Inc. (IM) Chief Executive Gregory M. Spierkel said he will step down from the computer-equipment distributor, which promoted its operating chief to succeed him. President and Chief Operating Officer Alain Monie will take the helm of the company Friday, replacing Spierkel, who said it was the right time to spend more time with his family. Intel Corp.'s (INTC) fourth-quarter earnings rose a better-than-expected 5.7% on strength in the chip giant's personal-computer business. Revenue and gross margin, a closely watched figure for chip makers, were in line with the company's December projection. Gap Inc. (GPS) said the leader of its Old Navy discount brand is departing to work at a privately held early-childhood education company. Men's Wearhouse Inc. (MW), CenterPoint Energy Inc. (CNP) and Williams Cos. (WMB) all unveiled dividend increases, joining a growing list of corporations that have ramped up shareholder-friendly payouts to woo investors. Merck & Co. Inc. (MRK) agreed to settle all claims related to its Vioxx painkiller in Canada for between C$21.8 million and C$36.9 million. NCI Inc. (NCIT) issued a downbeat revenue outlook for 2012, citing uncertainty in the federal procurement environment and a high number of protested or cancelled contracts. The company also unveiled $5 million of cost-cutting measures, including a reduction in workforce. Oneok Partners LP (OKS) raised its full-year earnings guidance due to higher anticipated profit from its natural-gas segment, while Oneok Inc. (OKE) also lifted the low end of its 2011 view. Spirit Airlines Inc. (SAVE) said a sale of 11 million common shares priced at $14.50, a 1.2% discount to Thursday's closing price. SunTrust Banks Inc.'s (STI) fourth-quarter earnings slipped 16% as the regional bank reported weaker-than-expected revenue, although credit costs continued to decline and earnings came in just above Wall Street's consensus view. Whiting Petroleum Corp. (WLL) reduced its production estimates for the fourth quarter and full year to reflect later-than-anticipated service rig arrivals in its Sanish field in the Northern Rockies. -Edited by Ian Thomson and Maya Pope-Chappell; write to ian.thomson@dowjones.com and maya.pope-chappell@dowjones.com